Top Growth Trends in the Artificial Neural Network Market: Key Insights and Opportunities for 2025-2034
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What key factors are powering the surge in the artificial neural network market right now?
The expansion of the artificial neural network market has been swift in the past few years. The growth is forecasted to surge from $0.49 billion in 2024 to $0.58 billion in 2025, with a compound annual growth rate (CAGR) of 17.80%. Factors such as burgeoning cyberattacks, heightened need for AI and automation, evolution of self-operating systems, broader acceptance of the Internet of Things (IoT), and the surge in cloud adoption have all contributed to the growth experienced in the historical period.
How fast Is the artificial neural network market expected to grow, and what’s its future value?
Anticipated to experience quick expansion in the forthcoming years, the artificial neural network market is projected to surge to $1.11 billion in 2029, presenting a compound annual growth rate (CAGR) of 17.44%. Factors contributing to this predicted growth include an escalating requirement for artificial intelligence (AI) across multiple industries, a surging demand for services based in the cloud, an increased usage of voice-activated AI assistants and dialogue AI, as well as growing usage for drug discovery and the healthcare sector, complemented with a rising volume of big data. Key trends for the forecast period encompass progress in machine learning and neural networks, integration with bulk data and analytics, connectivity with the Internet of Things (IoT) and edge computing, synergies between hybrid cloud and edge, together with integration with the forthcoming 5G networks.
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What are the leading drivers of growth in the artificial neural network market?
The rise in demand for solutions based on the cloud is set to fuel the expansion of the artificial neural network market. Solutions based on the cloud refer to applications or services that function on remote servers, accessed via the internet, as opposed to being hosted on local devices or servers. The growing preference for these types of solutions can be linked to their cost-effectiveness, scalability, improved data access, and the ability to support remote collaboration, which cater to the changing requirements of contemporary businesses. Artificial neural networks augment these solutions, thanks to their capacity for advanced data processing, predictive analytics, and smart decision-making, leading to enhanced performance and scalability. For example, in December 2023, a government agency based in Luxembourg in the EU, Eurostat, stated that there had been a 4.2 percentage point increase in enterprises opting for cloud computing services in 2023 compared to 2021. Consequently, the escalating demand for solutions dependent on the cloud is behind the growth being witnessed in the artificial neural network (ANN) market.
What are the key segments defining the artificial neural network market?
The artificial neural network market covered in this report is segmented –
1) By Component: Solutions, Platform Or Application Programming Interface (API), Services
2) By Deployment Mode: On-Premises, Cloud
3) By Enterprise: Large Enterprises, Small And Medium Enterprises
4) By Application: Image Recognition, Signal Recognition, Data Mining
5) By End-User: Banking, Financial Services, and Insurance (BFSI), Retail And E-Commerce, IT And Telecom, Manufacturing, Healthcare, Automotive
Subsegments:
1) By Solutions: Software Solutions, Hardware Solutions, Deployment Solutions, Data Management Solutions
2) By Platform Or Application Programming Interface (API): Cloud-Based Platforms, On-Premise Platforms, Open-Source APIs, Proprietary APIs
3) By Services: Consulting Services, Integration And Deployment Services, Support And Maintenance Services, Managed Services
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Who are the key players steering the development of the artificial neural network market?
Major companies operating in the artificial neural network market are Google Inc., Microsoft Corporation, Amazon Web Services Inc., Intel Corporation, IBM Corporation, Qualcomm Technologies Inc., Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, NVIDIA Corporation, Salesforce Inc., Rockwell Automation Inc., OpenAI Inc., H2O.ai Inc., Anaconda Inc., Clarifai Inc., Neurala Inc., Ward Systems Group, BrainChip Holdings Ltd., NeuroDimension Inc.
What emerging trends are influencing the growth of the artificial neural network market?
Major companies operating in the artificial neural network market are focusing on developing innovative platforms, such as AI-based networking platforms, to enhance data processing capabilities, improve predictive analytics, and optimize machine learning models, thereby enabling more efficient and scalable solutions across industries like healthcare, finance, and automotive. AI-based networking platforms refer to advanced systems that integrate artificial intelligence with networking technologies to optimize data flow, enhance network management, and improve overall performance. For instance, in February 2022, the International Telecommunication Union, a Switzerland-based specialized agency, launched the AI for Good neural network, a groundbreaking platform aimed at advancing sustainable development through artificial intelligence. This platform integrates advanced AI algorithms to tackle global challenges such as climate change, poverty, and health disparities. Its key feature is the ability to process and analyze large datasets from diverse sources, delivering valuable insights that enable governments, organizations, and researchers to make informed decisions. The platform also emphasizes collaboration, bringing together experts from different sectors to develop innovative, scalable solutions for sustainable growth, all while aligning with the UN’s Sustainable Development Goals (SDGs).
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Which regions are most influential in expanding the artificial neural network market?
North America was the largest region in the artificial neural network market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial neural network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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